Softbank Completes PoC for Blockchain Cross-Carrier Payments

The system is based on TBCASoft's Rich Communication Services (RCS) global messaging standard already in operation in Japan.

The firms also claim that users will be able to use the platform to spend and transfer cryptocurrency anywhere in the world using their mobile devices.

Japan's telecom group SoftBank, along with software company Synchronoss Technologies (SNCR) and blockchain-oriented firm TBCASoft, successfully completed a Proof of Concept (PoC) trial for a new cross-carrier mobile payments solution that relies on the Rich Communications Services (RCS) messaging protocol and TBCASoft's cross-carrier blockchain platform.

The three entities joined their efforts to carry out a PoC that was meant to enable users to conduct in-store, mobile, and digital purchases from their mobile phones.

SoftBank's Vice President, Takeshi Fukuizumi feels that the pilot project shows the value that operator-led services can offer. It is one of its kinds of payment services platform which is based on the Rich Communication Services (RCS) and TBCASoft's cross-carrier blockchain platform. In addition to that the RCD messaging standard will also be used to do transactions.

Due to the flexibility of the system, an individual can use an RCS-based messaging app or legacy messaging service like SMS or mobile email to receive person-to-person (P2P) funds through RCS wallet app either in the same country or overseas.

A year ago, SoftBank formed a global consortium called the Carrier Blockchain Study Group (CBSG) with TBCASoft and several global major carriers like US -based carrier Sprint and Taiwan-based FarEasTone.

"We foresee our new mobile payment service empowering merchants to operate digitally, and at a scale that was previously only available to big brands, but it will also give our customers more flexibility when it comes to their purchasing and traveling habits".

The former provides services on Internet of Things [IoT], messaging, cloud and is a digital platform, as well. In association with blockchain, it planned to build this RCS among mobile carriers.

Glenn Lurie, Synchronoss CEO and President, said that new cutting edge technologies, such as blockchain and RCS, will disrupt the current messaging and payments market, creating new opportunities for customers, brands, and businesses, and will also drive incremental revenue for operators from messaging.

Users of the new blockchain platform will not have to change their money at a bank when traveling internationally. TBCASoft is located in Sunnyvale, California, the center of Silicon Valley.

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